Eye-on-Retail Daily Tipsheet Archives

This Morning: Doug McMillon & Marc Lore appear on CNBC “When McMillon met Jet founder Marc Lore in the spring, he said he quickly realized the two were like-minded in many ways. By the time the meeting was over, they had already begun sketching out on a white board how a combination of the two companies could work.”See the video interview / Read more

…”I think we hit it off the first day,” Lore echoed. “We just started talking about these amazing plans we had.”

Monday: Jet CEO Marc Lore in Recode interview “This was about trust between Doug and I,” Lore said in reference to Walmart CEO Doug McMillon, noting that the conversations between the two sides began in the spring. “It never occurred to me to go out and get another offer, quite honestly.”Read more

Wayfair Q2 Total Revenue +60% “Wayfair continues to take between a third and forty percent of the online dollar growth in our categories in the U.S.,” said Niraj Shah, CEO, co-founder and co-chairman, Wayfair.”Press release

Walmart’s Karen Roberts talks diversity at American Bar Association meeting: “I’m not telling you how to run your business, I’m telling you as consumer of your services this is my expectation and if you are not willing to meet it, we are not going to use you.” by Meredith Mandell at Bloomberg Law.Read more

Wegmans CEO: It’s ‘kind of sad’ to compete with Publix in Virginia by Ashley Gurbal Kritzer at Tampa Bay Business Journal. “They are absolutely wonderful people,” Wegman told the Times-Dispatch. “George Jenkins, who founded Publix, and [my] dad (Robert Wegman, who died in 2006) were like best friends. In many ways, it’s kind of sad that we will compete. We didn’t know that they were going to Richmond. Anyway, here we go.”Read more

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Data Breach At Oracle’s MICROS Point-of-Sale Division at Krebs on Security. “Oracle’s MICROS division sells point-of-sale systems used at more than 330,000 cash registers worldwide. When Oracle bought MICROS in 2014, the company said MICROS’s systems were deployed at some 200,000+ food and beverage outlets, 100,000+ retail sites, and more than 30,000 hotels.”Read more

Survey: 74% of millennials don’t expect to ever get a Social Security check by Mark Calvey at San Francisco Business Times.Read more

Home Depot was #1 in radio spots for 18 consecutive weeks until last week at Radio Ink. “Walgreens was third with 29,355, followed by McDonald’s at 26,424 and AutoZone with 25,444.”Read more

Hollar, the World’s First Online-Only Dollar Store, Woos Millennial Moms by Cheryl Wischhover at Racked. “Hollar currently has over one million visitors coming to the site every month. Yeom notes that over 80% of Hollar’s customers are women, and most of those are millennials, moms, or both. More than 80% of customers are ordering from places other than New York and California, and most Hollar customers shop on their phones via the app.”Read more

Walmart’s Neil Ashe Jettisoned at Internet Retailer. “According to an internal memo distributed to Wal-Mart employees and obtained by Internet Retailer announcing the Jet.com acquisition, Wal-Mart president and CEO of global e-commerce Neil Ashe will leave the company at the end of this fiscal year.”Read more

ChannelAdvisor’s revenue rises 12% in Q2 by Allison Enright at Internet Retailer.Read more

Michigan: 7-Eleven, Family Dollar stores to accept child support payments via Crain’s Detroit Business. “Frisch said Michigan is the fifth state to join the child support/retail store program.”Read more

Bezos has unloaded $1.4 billion in Amazon stock in the last three months by Nat Levy at GeekWire.Read more

This Pennsylvania guy probably made a killing on the Wal-Mart-Jet.com deal by Anita Balakrishnan at CNBC. “Martin won 100,000 shares in Jet.com last year as part of a contest aimed to get users to refer the most family and friends to the membership-based site…some reports have valued his Jet.com shares upward of $20 million.”Read more